REO and Foreclosure Appraisals in Wabash County
Homes in foreclosure and homes that have returned to the bank's control create unique appraisal challenges.
When there is a home in foreclosure, you need to ascertain the difference between fair market value and "quick disposition" value to analyze your probable charge-off liability. At Lundquist Appraisals & Real Estate Services, we have the background in both producing snapshots of fair market value for our mortgage lending clients, as well as "quick sale" forecasts that understand your time constraints.
You need a company with the expertise to handle the particular dynamics of a foreclosure appraisal. For a company you can rely on, contact Lundquist Appraisals & Real Estate Services.
Particular challenges might be present when working with owners of properties in foreclosure. They might be opposed to allowing an inspection of the home. If they moved out of the property already, they might have overlooked the care of the home for a long time - or worse, ransacked the property.
You will be interested in a fast disposition if the house has already changed to bank owned. So you may want to understand and review three values: as-is, as repaired, and "quick sale." These correspond to the value of the property without any repairs performed, with the work required to make the property marketable at full market value appropriate with similar real estate in the area, and, somewhere in between, with minor investment in repairs - selling the property quickly, likely to someone inclined to finish the job themselves. Again, we understand your timeline and the specific situation of a bank owned home, in addition to the unique data you will need -- competing listings, neighborhood trends, and the like. You can bank on Lundquist Appraisals & Real Estate Services to handle the appraisal of your REO with expertise and professionalism. Contact us today.